Cooley Partners with OpenAI on Legal Tool For Drafting SEC Filings

OpenAI and law firm Cooley co-launched a product, called GO Public, that can draft S-1 filings, the document companies must submit to the Securities and Exchange Commission before they can go public, Cooley said Thursday.

Lawyers at Cooley can prompt GO Public, which also has access to Cooley data, to write and revise S-1 filings within minutes, a process that the firm says typically takes a team of lawyers days to complete. The chatbot-like tool can also match sections to particular people’s tones of voice, such as the CFO of the company going public, for example, said David Peinsipp, a partner at Cooley who co-chairs the firm’s global capital markets group.

“The real secret sauce, of course, is in the parameters we built into it,” he said. “This is where we take all the wisdom and experience and expertise that Cooley has built, specific to the agent’s goal, and then build a framework around it.”

“We’re not scared of it,” Peinsipp added of the ongoing AI transformation of the legal industry, which has been “a strategic imperative” for the firm.